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US Senate passes sweeping tax overhaul bill

02 December 2017 [14:38] - TODAY.AZ

By  Trend

US senators have passed a sweeping tax cuts bill, paving the way for Donald Trump's first big legislative victory, BBCreports.

The final bill was passed 51 to 49 in favour, following a series of amendments in a marathon session.

The plan sees a sharp cut in corporation tax, but a Senate committee finding said it would add $1tn (£742bn) to the budget deficit.

President Trump wants the measures - the biggest US tax overhaul since the 1980s - enacted by the end of the year.

The Senate must now merge its legislation with that passed last month by the House of Representatives.

The reconciled bill will then be sent to the president's desk for his signature to be enacted into law.

Democrats complained that the bill would benefit only the wealthy and big business, as well as adding to the US deficit. However, they were unable to muster enough votes to stop it. Senate Republicans have a 52-48 majority.


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